This chapter offers an overview of the empirical and theoretical research on the long-run evolution of wealth and … inheritance. Wealth–income ratios, inherited wealth, and wealth inequalities were high in the eighteenth to nineteenth centuries … show that over a wide range of models, the long-run magnitude and concentration of wealth and inheritance are an increasing …

productivity; (ii) a fall in the labor share, (iii) an increase in the capital income ratio, and (iv) an increase in the wealth … Pasinetti (1962) approach to differential saving propensities among classes with the theory of induced technical change (ITC) by …, differential savings delivers a direct relationship between the capitalist share of wealth and the capital-income ratio independent …

We investigate reference point formation in a social network of multiple investors and study its impact on wealth … growth and inequality under a framework of Prospect Theory. The reference point of each individual investor contains both … personal and social components. Whereas the personal component depends on the investor's own history of wealth, the social …